What are Closing Costs?
Certain standard costs are associated with closing the sale of a house. Buyers and sellers customarily share these closing costs, as specified in the real estate sales contract.
As indicated below, many of the costs result from getting your mortgage. Since Sky Apply Mortgage, Inc is highly experienced with mortgages & closings, we are closing cost experts.
Loan Estimate (LE)
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between the Loan Estimate (LE) and closing. We field questions about these costs every day at Sky Apply Mortgage, Inc, so please be sure to ask if you have questions.
Below is a generic list of closing costs. We will always provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Loan-Related Costs
- Escrow Fees
- Various Taxes
- Loan Origination Fee
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Appraisal Costs
- Credit Report
- Up-front Interest Payment
Property Taxes
- Insurance
- Recording Fees & Transfer Taxes
Homeowners Insurance
- Flood or Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
Sky Apply Mortgage, Inc can answer questions about these closing costs. Give us a call: 8132007931.